Cerro Pacific Wealth Advisors LLC Sells 267 Shares of Genuine Parts (NYSE:GPC)

Cerro Pacific Wealth Advisors LLC lessened its holdings in Genuine Parts (NYSE:GPC) by 3.8% in the fourth quarter, Holdings Channel reports. The firm owned 6,755 shares of the specialty retailer’s stock after selling 267 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Genuine Parts were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quantinno Capital Management LP grew its position in Genuine Parts by 74.0% during the third quarter. Quantinno Capital Management LP now owns 11,311 shares of the specialty retailer’s stock valued at $1,580,000 after buying an additional 4,809 shares during the period. Miramar Capital LLC boosted its stake in Genuine Parts by 9.8% in the third quarter. Miramar Capital LLC now owns 87,802 shares of the specialty retailer’s stock valued at $12,264,000 after acquiring an additional 7,845 shares during the last quarter. Verity & Verity LLC grew its position in shares of Genuine Parts by 9.7% during the 4th quarter. Verity & Verity LLC now owns 104,473 shares of the specialty retailer’s stock valued at $12,198,000 after acquiring an additional 9,199 shares during the period. Conning Inc. increased its stake in shares of Genuine Parts by 8.2% during the 3rd quarter. Conning Inc. now owns 261,303 shares of the specialty retailer’s stock worth $36,499,000 after purchasing an additional 19,795 shares during the last quarter. Finally, WD Rutherford LLC raised its holdings in shares of Genuine Parts by 4,265.9% in the 3rd quarter. WD Rutherford LLC now owns 7,422 shares of the specialty retailer’s stock worth $1,037,000 after purchasing an additional 7,252 shares during the period. 78.83% of the stock is owned by hedge funds and other institutional investors.

Genuine Parts Stock Up 0.5 %

GPC stock opened at $118.27 on Friday. Genuine Parts has a 1-year low of $112.74 and a 1-year high of $164.45. The stock has a market cap of $16.44 billion, a price-to-earnings ratio of 15.22 and a beta of 0.95. The company has a current ratio of 1.17, a quick ratio of 0.57 and a debt-to-equity ratio of 0.81. The company’s 50 day moving average is $120.32 and its 200 day moving average is $130.01.

Genuine Parts (NYSE:GPC) last posted its quarterly earnings data on Tuesday, October 22nd. The specialty retailer reported $1.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.42 by ($0.54). Genuine Parts had a return on equity of 27.23% and a net margin of 4.67%. The company had revenue of $6 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the prior year, the firm posted $2.49 earnings per share. The business’s revenue was up 3.0% on a year-over-year basis. Sell-side analysts predict that Genuine Parts will post 8.09 EPS for the current fiscal year.

Genuine Parts Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Friday, December 6th were given a $1.00 dividend. The ex-dividend date was Friday, December 6th. This represents a $4.00 annualized dividend and a yield of 3.38%. Genuine Parts’s payout ratio is currently 51.48%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on GPC. Loop Capital began coverage on Genuine Parts in a report on Thursday, January 16th. They set a “buy” rating and a $155.00 price objective for the company. Wedbush decreased their price objective on Genuine Parts from $145.00 to $120.00 and set a “neutral” rating for the company in a report on Wednesday, October 23rd. Northcoast Research downgraded shares of Genuine Parts from a “buy” rating to a “neutral” rating in a report on Friday, January 17th. The Goldman Sachs Group reduced their target price on shares of Genuine Parts from $162.00 to $138.00 and set a “neutral” rating for the company in a research note on Wednesday, October 23rd. Finally, StockNews.com cut shares of Genuine Parts from a “buy” rating to a “hold” rating in a research note on Wednesday, October 16th. Eight investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $141.50.

Insider Transactions at Genuine Parts

In other Genuine Parts news, Director Wendy B. Needham sold 1,608 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $120.78, for a total transaction of $194,214.24. Following the completion of the sale, the director now owns 11,357 shares of the company’s stock, valued at $1,371,698.46. This represents a 12.40 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.37% of the company’s stock.

Genuine Parts Profile

Genuine Parts Company distributes automotive replacement parts, and industrial parts and materials. It operates in two segments: Automotive Parts Group and Industrial Parts Group segments. The company distributes automotive replacement parts for hybrid and electric vehicles, trucks, SUVs, buses, motorcycles, recreational vehicles, farm vehicles, small engines, farm equipment, marine equipment, and heavy duty equipment; and equipment and parts used by repair shops, service stations, fleet operators, automobile and truck dealers, leasing companies, bus and truck lines, mass merchandisers, farms, and individuals.